Richards Merrill & Peterson Inc. Sells 503 Shares of Sysco Corporation $SYY

Richards Merrill & Peterson Inc. cut its position in Sysco Corporation (NYSE:SYY) by 5.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,486 shares of the company’s stock after selling 503 shares during the quarter. Richards Merrill & Peterson Inc.’s holdings in Sysco were worth $643,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chung Wu Investment Group LLC acquired a new position in shares of Sysco during the second quarter worth approximately $30,000. Golden State Wealth Management LLC raised its position in shares of Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock valued at $32,000 after buying an additional 140 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Sysco in the first quarter valued at about $33,000. Cheviot Value Management LLC bought a new position in Sysco during the first quarter valued at about $34,000. Finally, 1248 Management LLC acquired a new stake in shares of Sysco during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Trading Down 1.2%

SYY stock opened at $77.30 on Friday. The company has a debt-to-equity ratio of 6.75, a current ratio of 1.21 and a quick ratio of 0.70. The stock has a market capitalization of $36.99 billion, a price-to-earnings ratio of 20.72, a P/E/G ratio of 2.41 and a beta of 0.82. The business has a fifty day moving average price of $80.53 and a 200 day moving average price of $76.78. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $83.47.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.09. Sysco had a return on equity of 109.52% and a net margin of 2.25%.The company had revenue of $21.14 billion during the quarter, compared to analyst estimates of $21.01 billion. During the same period last year, the company posted $1.39 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Sysco has set its FY 2026 guidance at 4.500-4.600 EPS. Analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Friday, October 3rd were given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, October 3rd. Sysco’s payout ratio is 57.91%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. UBS Group set a $90.00 target price on Sysco in a research report on Wednesday, July 30th. Sanford C. Bernstein began coverage on shares of Sysco in a research note on Wednesday. They issued a “market perform” rating and a $83.00 target price on the stock. Wall Street Zen downgraded Sysco from a “buy” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company set a $88.00 target price on Sysco and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Finally, Truist Financial boosted their price target on Sysco from $81.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.00.

Insider Transactions at Sysco

In other Sysco news, EVP Ronald L. Phillips sold 7,351 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $81.00, for a total value of $595,431.00. Following the transaction, the executive vice president directly owned 41,837 shares in the company, valued at approximately $3,388,797. This trade represents a 14.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 14,732 shares of company stock worth $1,193,245. 0.56% of the stock is currently owned by corporate insiders.

Sysco Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.